(1) The Financial Services and Markets Act 2000 (Transitional Provisions and Savings) (Civil Remedies, Discipline, Criminal Offences etc.) Order 2001 [S.I. 2001/2657.] is revoked.

(2) In articles 2(1) and 4(2) of the Financial Services and Markets Act 2000 (Consequential and Transitional Provisions) (Miscellaneous) (No. 2) Order 2001 [S.I. 2001/2659.] ("the Consequential No. 2 Order"), for "the Financial Services and Markets Act 2000 (Transitional Provisions and Savings) (Civil Remedies, Discipline, Criminal Offences etc.) Order 2001" in each case, substitute "the Financial Services and Markets Act 2000 (Transitional Provisions and Savings) (Civil Remedies, Discipline, Criminal Offences etc.) (No. 2) Order 2001".

(3) The substitutions made by paragraph (2) do not affect the validity of any requirement imposed before this article comes into force under article 2 or 4 of the Consequential No. 2 Order but any such requirement ceases to have effect when this article comes into force if it could not have been imposed under that article as amended by paragraph (2).

(4) No action may be taken or continued under or pursuant to the Act in relation to any requirement which ceases to have effect by virtue of paragraph (3).